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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI: PBOC Net Drains CNY216 Bln via OMO Monday
The modest risk-off theme amid weaker.........>
FOREX: The modest risk-off theme amid weaker regional equity markets pressured
overnight, despite this the dollar was broadly unchanged from Friday's close in
New York and held to fairly narrow ranges. Broad-based dollar selling pressure
emerged into Europe, Usd/Jpy moved through the Asia low with ease, touched
pullback lows of Y111.16 before dip buyers cushioned falls. Fast money sellers
in Eur-Yen had pressured through Y133.00 to Y132.72 overnight. However, the
cross witnessed an uneventful European session and largely consolidated between
Y132.70-92. Eur/Usd moved through the Asia high ($1.1944), squeezed to $1.1957
before fading. Sterling retained an underlying buoyant tone, cable holds near
the peak of its $1.3310-53 morning range, Eur-stg last stg0.8940. Quiet on the
calendar today but this should pick up towards the end of the week, along with
mth-end flow the full Senate is expected to vote on the Tax Reform Bill. Should
the bill get through it would still need reconciling between both houses which
could provide a stumbling block going forward.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.